Economy

Putin reluctant to cut oil supply to N. Korea

Putin reluctant to cut oil supply to N. Koreaā€¯

Russian President Vladimir Putin dismissed a request from his South Korean counterpart Wednesday to cut off oil shipments to energy-starved North Korea as a way of punishing the communist state for its latest nuclear test and also forcing it out to the dialogue table.

Trump has urged China, North Korea's only major ally, to do more to rein in its neighbour.

"It's a road to nowhere".

"We reserve the right to further reduce the number of United States diplomats in Moscow", Putin said to reporters in China, where he was attending the BRICS summit on Tuesday. "It could cause a global catastrophe and an enormous loss of life". On the same day, China's air force carried out exercises near the Korean peninsula, practicing to defend against a "surprise attack" coming over the sea.

"They would rather eat grass but will not give up the [nuclear] program if they do not feel safe", Putin was quoted by The Associated Press as saying.

Putin said it was important that all parties affected by the crisis, including North Korea, not face "threats of annihilation" and "step on the path of cooperation".

The exercise came days after North Korea carried out its sixth and largest nuclear test of an advanced hydrogen bomb and there is mounting concern internationally that the country plans more weapons tests, possibly of a long-range missile.

As we reported on Monday, U.S. Ambassador to the United Nations Nikki Haley told an emergency Security Council meeting on Monday that Pyongyang was "begging for war".

He stressed that a military option should be "ruled out of any discussions".

"The president asked Russian Federation to help, noting it was imperative to at least cut off oil supplies to North Korea this time".

"And unfortunately, economic measures that might be adopted - they will definitely fall on the Korean people themselves, not on the Korean nuclear or ballistic (missile) problem", Nebenzia said.



Like this

Latest


10 September 2017
Leucadia National Corporation (NYSE:LUK) Valuation According To Analysts
Principal Grp Inc holds 0.73% of its portfolio in SBA Communications Corporation (NASDAQ:SBAC) for 5.58M shares. (NYSE:LUK). It dropped, as 30 investors sold LUK shares while 150 reduced holdings. 53 funds opened positions while 113 raised stakes.

10 September 2017
Should Investors Take a Bite out of AMC Entertainment Holdings, Inc. (AMC)?
Traders are feeling more bearish on shares of AMC Entertainment Holdings, Inc recently looking at the change in short interest. In related news, Director Jack Qunyao Gao acquired 20,000 shares of the stock in a transaction on Friday, August 18th.

10 September 2017
Adobe Systems Coverage Initiated by Brokerages at Moffett Nathanson
Southeastern Asset Management Inc Tn holds 6.93% of its portfolio in Scripps Networks Interactive, Inc. for 10.07 million shares. The company has grown sales at a 8.10% annual rate over the past five years, putting it in the medium growth category.

10 September 2017
Investec Asset Management PTY Ltd Acquires Shares of 3680 Facebook, Inc. (FB)
In other Facebook news, COO Sheryl Sandberg sold 131,500 shares of the company's stock in a transaction dated Monday, June 19th. Jacobus Wealth Management Inc. acquired a new position in shares of Facebook during the third quarter valued at about $121,000.

10 September 2017
Joseph Duggar and Kendra Caldwell Are Married!
However, the family came in for some heavy criticism from social media users for getting their children married so young. Like at previous weddings, this time too, the evangelical Christian family snubbed Josh from the wedding rituals.

10 September 2017
Gregg Allman Immortalized in Portrait Made with His Own Blood
As Yahoo Music reports, Castiglia says he was "completely blown away" by the opportunity to take on this project. A video for the album track "I Love the Life I Live" has also been released.

10 September 2017
N. Korea pledges 'powerful counter measures' against sanctions
The U.S. and South Korea should "immediately stop the deployment process and withdraw relevant equipment", Geng said. A further measure in the draft resolution would ban the recruitment of North Korean labourers overseas .

10 September 2017
American Airlines Group, Inc. (AAL) Stock Rating Reaffirmed by Cowen and Company
Short traders are feeling a little more bullish on shares of the company lately as indicated by the change in short interest. The stock go down so far this year; showing a decline of -5.10% and dropped with negative flow of -0.56% during recent week.

10 September 2017
Turan joins Galatasaray on a two-year loan
The 30-year-old moved to Barcelona in 2015 but never really appeared to settle at the club once the Blaugrana were able to register him.

10 September 2017
La Liga mulls Barcelona and Real Madrid games overseas
It was the first time the teams met in a friendly since 1991 and only the second time outside of Spain. The preferred destinations for the games played overseas would be China or the United States.



Recommended